MARKETS / FINANCE

Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.

A sharp increase in temporary work -- a traditional leading indicator of in the early phase of recovery -- shows that many European countries and the United States are pulling out of recession, an industry association said on Thursday.

Microblogging service Twitter has agreed to a settlement with the U.S. Federal Trade Commission over charges it put its customers privacy at risk by failing to safeguard their personal information.

Last minute proposals to U.S. legislation designed to reduce risks in the $450 trillion derivatives markets may limit competition among firms seeking to centrally clear contracts, a trade association said on Thursday.

JOHANNESBURG (Reuters Life!) - Want to hear what your favorite pop star or politician sounds like accompanied by the most memorable sound of the soccer World Cup in South Africa -- the droning vuvuzela trumpet?

Morgan Stanley agreed on Thursday to pay $102 million to end an investigation in Massachusetts into unfair lending practices.

Stocks fell on Thursday on worries the economic recovery was slowing, with banks also pressured by congressional negotiations on a financial regulatory overhaul.

The former Soviet Central Asian republics are at a precarious crossroad today between accomplishing monumental progress, like Kazakhstan, and flirting with disaster and the prospects of civil war, like Kyrgyzstan.

Britain could force internet service providers such as BT, Virgin Media and TalkTalk to reveal whether they restrict access to some websites at peak times while favoring others, regulator Ofcom said.

Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.

Morgan Stanley has agreed to pay $102 million to settle an investigation in Massachusetts into the investment bank's subprime lending practices, a source familiar with the matter said on Thursday.

The excitement surrounding the new Chinese yuan currency regime has been not been reflected in the non-deliverable forward (NDF) market. The 1-year CNY NDF is only pricing in a 2 percent move in the next 12 months. This is conservative compared to the pricing of the 1-year NDFs in July 2005 when China altered their currency policy from a de-facto peg of 8.2765 yuan per dollar to a managed float.

The top White House economic advisor said on Thursday world leaders must keep the tentative global recovery on track as Europe headed into this weekend's G20 summit defending plans for heavy cost-cutting.

The top White House economic advisor said on Thursday world leaders must keep the tentative global recovery on track as Europe headed into this weekend's G20 summit defending plans for heavy cost-cutting.

Corrects spelling of 'czar' in first paragraph

The yen rose against the dollar and euro on Thursday as a less optimistic outlook on growth from the U.S. Federal Reserve dented risk appetite, with the single currency further hampered by Greek debt markets.

The number of workers filing new applications for unemployment insurance fell slightly more than expected last week, offering hope the fragile economic recovery remained intact.

Stocks fell on Thursday, with bank shares pressured as negotiations over a financial reform bill approached the final hours, while investors remained skittish about the pace of the economic recovery.

With the historic overhaul of financial rules nearly complete, lawmakers have waited until the final, frantic hours to sort out the most controversial provisions in the bill.

The dollar and yen rose against the euro on Thursday as a less optimistic outlook on growth from the U.S. Federal Reserve dented investors' appetite for risk, with the euro further hampered by Greek debt markets. Concerns over Greece were hanging over the euro zone, as the cost of protecting its government debt against default hit a record high.

Senators said on Wednesday they were unmoved by China's steps to partly free the yuan and vowed to push forward legislation to punish a Chinese currency misalignment they say distorts trade and steals jobs.

Wall Street was set to open lower on Thursday as investors fretted about the pace of the economic recovery, though a better-than-expected drop in initial jobless claims provided comfort.

New claims for jobless benefits fell last week, while orders for long-lasting manufactured goods excluding transportation rose in May, offering hope the fragile economic recovery remained intact.

Gold prices are soaring to new heights but who is buying. It seems nobody is interested in gold at least in India. If you take note of India's import data for April and May months, the quantity of gold imported to the country has come down heavily.

Oil prices fell for a third day to beneath $76 a barrel on Thursday after a jump in U.S. crude oil inventories outweighed the Federal Reserve's decision to keep interest rates near zero. A dip in European shares on Thursday also dampened sentiment and reinforced the correlation between oil and equities. EU

Africa's second largest gold producer, Ghana's gold output rose to 696,172 ounces in the first quarter of this year. According to Ghana Chamber of Mines, country's gold production hit 696,172 ounces during the first quarter of 2010, up 3 percent over the same quarter a year ago.

Gold was flat to slightly firmer on Thursday as the Federal Reserve's vow to keep interest rates low and uncertainty over the global economy underpinned investor appetite. On Wednesday, weak U.S. housing data helped send gold to a low below $1,230 an ounce, but its recovery since then on bargain-hunting eased bearish views that gold cannot be an exception when a sell-off hits other commodities and stocks.

Stock index futures slipped on Thursday as the Federal Reserve underscored worries the recovery was not as robust as hoped and ahead of weekly initial jobless claims data.

European policymakers defended budget austerity plans on Thursday ahead of a G20 summit set to pit calls for fiscal restraint against warnings that heavy cost-cutting threatens recovery.